Minutes of the RBA February meeting out now

Minutes of the February policy meeting of the Reserve Bank of Australia:

AUD still above most estimates of fundamental value
Board discussed case for waiting until March to cut rates
Decided a February easing allowed additional early communication in the quarterly SoMP
Lower a$ needed for economy, further sustained fall would lift growth and inflation
Board noted a$ would be affected by monetary policy expectations at home and abroad
Revival in non-mining investment necessary for above-trend growth, but confidence lacking
Pick up in household consumption also needed, lower fuel prices to help offset soft wages
Unemployment expected to peak later and little higher than previously forecast
Spare capacity, productivity growth had lowered unit labour costs and inflation outlook
Housing market would bear careful watching given rising prices, investment lending
Uncertain on outlook for chinese property market, impact on commodity demand

Quick headlines via Reuters